Bloomberg New Zealand’s central bank refrained from raising interest rates during a coronavirus outbreak and nationwide lockdown but left little doubt it intends to start lifting them soon. The Reserve Bank’s Monetary Policy Committee kept the official cash rate (OCR) at 0.25%, but Governor Adrian Orr said the decision was made in light of the lockdown and that policy was …

Bloomberg The Philippine central bank will stop accepting applications for digital banking licenses from September 1, Governor Benjamin Diokno said. Bangko Sentral ng Pilipinas will close the application window for three years to allow the regulator “to better monitor” the performance of the industry, Diokno said in a briefing. Submissions on or before end-August will be processed on a first-come, …

Bloomberg Goldman Sachs Group Inc’s Petershill unit, which specialises in buying stakes in alternative asset managers, is considering listing a permanent capital vehicle in London as soon as this year, people familiar with the matter said. Petershill is working with advisers on the potential initial public offering (IPO), the people said, asking not to be identified because the information is …

Bloomberg Indonesia’s central bank left its benchmark interest rate at a record low to protect the currency, and said it had formulated a plan to deal with eventual US policy tightening. Bank Indonesia kept the seven-day reverse repurchase rate at 3.5%, as expected by all 28 analysts in a Bloomberg survey. Interest rates have been on hold since February’s 25-basis …

Bloomberg The Chinese central bank’s branch in Shenzhen ordered almost a dozen companies operating in the technology hub to rectify illegal activities related to cryptocurrencies, signalling an intensifying crackdown on digital assets. The People’s Bank of China’s (PBOC) Shenzhen branch started a “rectification project” targeting illegal trading of virtual currencies and “cleaned up” 11 firms allegedly involved in illegal activities …

Bloomberg Ford Motor Co.’s Lincoln luxury division is updating the cash-cow Navigator SUV with hands-free driving technology and refreshing the styling. But the automaker isn’t adding a feature it has been touting lately —electric power. With new competition coming from the updated Jeep Grand Wagoneer, Lincoln is giving its flagship vehicle a reboot, adding creature comforts like second-row seats that …

Bloomberg Google’s latest entry-level 5G smartphone will offer a larger screen, water resistance and a bigger battery as the company tries to woo budget-minded shoppers and increase its modest market share. The $449 Pixel 5a costs $50 less than last year’s Pixel 4a 5G with a limited update of features and a small downgrade in 5G standards support. It’s still …

Bloomberg Tencent Holding Ltd.’s revenue increased at its slowest pace since 2019 after China’s expanding tech crackdown hit its mobile gaming empire, overshadowing newer businesses from cloud to social ads. Beijing’s months-long crackdown has ignited a trillion-dollar selloff in Chinese equities, up-ended online education and also pumped the brakes on growth across a swath of industries from advertising to car-sharing. …

Bloomberg General Motors Co (GM) is recalling more than 73,000 of its Bolt electric vehicles at a cost of $1 billion due to the risk of their batteries catching fire. The recall is an expansion of a similar action the company took last month when it discovered a defect in battery that powers the EV. The move covers all Bolt EVs …

Bloomberg Nissan Motor Co debuted the latest edition of its Z series coupe in New York, marking the seventh generation of a sports-car line that was introduced in 1969 as the Fairlady Z in Japan and the Datsun 240Z in the US. The new Z is the first refresh of the two-door platform in over a decade and will be …